Stock Traders Purchase High Volume of Call Options on Chegg (NYSE:CHGG)

Chegg, Inc. (NYSE:CHGG) was the recipient of some unusual options trading activity on Monday. Stock traders acquired 5,655 call options on the company. This is an increase of 129% compared to the typical daily volume of 2,472 call options.

Insider Buying and Selling at Chegg

In other news, Director Renee Budig sold 54,347 shares of Chegg stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $0.78, for a total transaction of $42,390.66. Following the completion of the transaction, the director directly owned 376,311 shares in the company, valued at $293,522.58. This trade represents a 12.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Chegg

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Chegg during the second quarter valued at approximately $2,268,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Chegg during the second quarter worth $809,000. GSA Capital Partners LLP bought a new stake in Chegg during the second quarter worth $836,000. Wealthfront Advisers LLC purchased a new position in Chegg in the second quarter worth $63,000. Finally, Bank of America Corp DE purchased a new position in Chegg in the second quarter worth $264,000. 95.18% of the stock is owned by institutional investors.

Chegg Trading Down 1.8%

Shares of NYSE:CHGG opened at $0.66 on Wednesday. The stock’s fifty day simple moving average is $0.74 and its two-hundred day simple moving average is $0.86. Chegg has a 1-year low of $0.45 and a 1-year high of $1.56. The stock has a market cap of $73.06 million, a PE ratio of -1.34 and a beta of 2.26.

Chegg (NYSE:CHGG) last posted its earnings results on Tuesday, November 3rd. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.04. The firm had revenue of $46.47 million during the quarter, compared to analyst estimates of $43.50 million. Chegg had a negative net margin of 19.96% and a negative return on equity of 13.38%.

Chegg News Roundup

Here are the key news stories impacting Chegg this week:

• Positive Sentiment: Q3 revenue was $46.47 million, above the $43.50 million analysts expected, while the loss of $0.05 per share was narrower than the expected $0.09 loss. Chegg Reports Third Quarter 2026 Earnings
• Neutral Sentiment: Chegg announced pilot partnerships with three universities to provide eligible students access to its Internships.com platform. The initiative could support its career-services business, but the pilots are limited in scope and duration. Chegg Announces University Partnerships
• Negative Sentiment: Chegg’s quarterly revenue guidance came in slightly below expectations, signaling that near-term growth may remain challenging. That outlook could offset the better-than-expected Q3 results. Chegg Q3 2026 Results and Guidance

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Chegg in a report on Friday, September 18th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Chegg has an average rating of “Reduce”.

About Chegg

Chegg, Inc is an education technology company that provides digital learning tools and academic support services to students. Its platform offers study assistance, expert answers, practice materials, writing support, and other resources intended to help students understand course content and complete academic work.

The company’s products have included Chegg Study, Chegg Writing, and Mathway, a mobile mathematics problem-solving service. Chegg has also offered language-learning services through Busuu, which it acquired in 2022.